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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Condominium rights and unit sales $ 113,852 $ 115,407 $ 342,208 $ 362,613
Master Planned Community land sales 54,906 44,128 177,531 147,168
Minimum rents 44,654 44,910 136,053 128,255
Tenant recoveries 11,586 11,657 34,627 33,108
Hospitality revenues 17,776 14,088 57,190 46,126
Builder price participation 5,472 4,483 14,613 15,631
Other land revenues 4,561 4,053 19,606 12,225
Other rental and property revenues 5,929 3,538 17,309 11,335
Total revenues 258,736 242,264 799,137 756,461
Expenses:        
Condominium rights and unit cost of sales 86,531 83,218 253,209 237,759
Master Planned Community cost of sales 29,043 21,432 88,288 66,128
Master Planned Community operations 8,180 10,674 24,881 30,454
Other property operating costs 21,354 16,535 60,153 47,513
Rental property real estate taxes 7,678 7,033 21,765 21,110
Rental property maintenance costs 3,380 3,332 10,016 9,217
Hospitality operating costs 13,525 12,662 41,534 37,379
Provision for doubtful accounts 448 1,940 1,728 4,629
Demolition costs 175 256 303 1,218
Development-related marketing costs 5,866 4,716 14,787 15,586
General and administrative 22,362 21,128 63,423 61,505
Depreciation and amortization 35,899 23,322 96,193 71,246
Total expenses 234,441 206,248 676,280 603,744
Operating income before other items 24,295 36,016 122,857 152,717
Other:        
Provision for impairment   (35,734)   (35,734)
Gains on sales of properties 237 70 32,452 140,549
Other (loss) income, net (160) 432 750 9,858
Total other 77 (35,232) 33,202 114,673
Operating income 24,372 784 156,059 267,390
Interest income 1,764 196 3,171 900
Interest expense (17,241) (16,102) (49,547) (48,628)
Loss on redemption of senior notes due 2021     (46,410)  
Warrant liability loss   (7,300) (43,443) (21,630)
Gain on acquisition of joint venture partner's interest   27,087 5,490 27,087
Equity in earnings from Real Estate and Other Affiliates 7,467 13,493 25,821 35,700
Income before taxes 16,362 18,158 51,141 260,819
Provision for income taxes 5,846 10,162 31,846 102,088
Net income 10,516 7,996 19,295 158,731
Net income attributable to noncontrolling interests (12) (23) (12) (23)
Net income attributable to common stockholders $ 10,504 $ 7,973 $ 19,283 $ 158,708
Basic income per share: (in dollars per share) $ 0.25 $ 0.20 $ 0.47 $ 4.02
Diluted income per share: (in dollars per share) $ 0.24 $ 0.19 $ 0.45 $ 3.72